Convicted Tyco Embezzler Dennis Kozlowski Granted Parole

When former Tyco International CEO Dennis Kozlowski was convicted for stealing $150 million in company money in 2005 on 22 criminal counts including grand larceny, conspiracy, securities fraud/sales and falsifying business records to a prison term of 8.33 to 25 years, he became the poster child for corporate greed. Shortly thereafter the entire financial system nearly collapse when everyone on Wall Street became a poster child for corporate greed and nobody went to jail. As such it became a moot point to make anyone a symbol for "corporate greed" since the Department of Justice itself admitted there is a brand new category reserved for the uber-greedy ones, also known as Too Big To Prosecute. Which is why moments ago, news broke that Kozlowski was granted parole after serving 100 months in jail, exactly nobody was surprised.

“Mr. Kozlowski is grateful to the parole board for its decision to grant him parole,” Alan Lewis, Kozlowski’s attorney at Carter Ledyard & Milburn, said in an email to FOX Business.

The New York State Board of Parole said it announced the decision to Kozlowski on Tuesday and his tentative release date is January 17, 2014.

Kozlowski had been denied parole in April 2012 on the grounds that he remained a threat to “public safety and welfare.” The former Tyco CEO filed suit after that denial.

Now that Dennis is no longer a threat to the public welfare, we expect him, Enron's Skilling and of course MF Global's Jon Corzine to form KozCorSki Asset Mismanagement and proceed to "manage" everyone else's centrally-redistributed money (get to work Mr. Chairwoman) in the one way that modern society truly deserves.

Whew! Now I can sleep better knowing the guilty as sin crooks have their "get out of jail free" cards back. For a minute there, I was worried the gubmint was going to crack down and punish pieces of trash like him.

Poor bastard missed out on the opportunity of a life time, just think of the too big to jail criminal mischief he could have gotten himself involved in if he wasn't sitting in the clink, this poor man was robbed!

Well said. Many don't understand how disgusting these people are. The difference between getting apprehended and getting loose over the soap drop test. Many of them are twisted and sick individual’s. Nixon even reported this fact.

Hey I'm the Jew that controls everything and everybody including W74 except those that are smart enough to put aluminum foil over their heads. Madoff is only relaxing in the can and engineered Koz's release to do his bidding, don't you get it? I also made Mt Etna erupt today as a distraction.

Between 1992 and 2002 Tyco International did over 1000 major M&A deals worth $70 Billion. The result was a hodge-podge of cast-off orphans from corporate America. Tyco sales increased from $7 Billion in 1997 to 34 Billion in 2001, a 50% annual rate of increase.

The real purpose of TYC was for Wall Street to create a vehicle for absorbing powerful waves of Wall Street speculation money which had been unleashed by the Fed. The hapless Kozlowski didn’t invent TYC, Wall Street did.

The explosion in the TYC stock price is additional proof that the Greenspan Bubble was rooted in monetary deformation. Most of TYC were old line businesses with annual growth rates of only 3%. Despite this, the PE ratio exploded from 17 to 67 in 1999. Corporate debt soared from $500 Million to $43 Billion. Goodwill went from $1 Billion to $43 Billion due to chronic overpayment of corporate assets. Shareholder equity was a negative $20 Billion in 2001. Kozlowski was the chump whose visage in the pantheon of American businesses greatest CEO’s was removed at a speed rivaling politburo portraits in Stalinist Russia. After a hurried do-over by the financial press, Koz was re-christened as a rouge CEO who stuck his shareholders with $6,000 shower curtains and a $2 Million party in Sardinia. TYC was the disheveled trunk of pots & pans from America’s industrial pawn shop led by a crude schemer who couldn’t resist the bait. $100 Billion in market cap vaporized by June 2002. That kind of re-pricing does not happen in a free market.